Vancouver, British Columbia – August 1, 2014 – Canada Renewable Bioenergy Corp. (“Canada Renewable” or the “Company”) (CSE - XZX) announces that it was not able to file its annual financial statements, accompanying management’s discussion and analysis and related CEO and CFO certifications of annual filings for the financial year ended March 31, 2014, (collectively, the “2014 Annual Financial Statements”), within the period prescribed for the filing of such documents under Regulation 51-102 Continuous Disclosure Obligations.
The Company is currently not in a position to file its 2014 Annual Financial Statements due to an inability to timely complete the audit. The Company’s board of directors and management are working with the Company’s auditors to meet the Company’s obligations relating to the filing of the 2014 Annual Financial Statements and expects to file the 2014 Annual Financial Statements on or before August 31, 2014.
About Canada Renewable Bioenergy Corp.
Canada Renewable Bioenergy Corp. is focused on producing renewable bio-based products and providing clean energy from biomass wastes through the use of its proprietary, patented pyrolysis technology. Products produced with its pyrolysis technology include electricity, biochar, wood vinegar & creosote. Already with operations in China, the Company plans to build a facility in British Columbia to capitalize on the growing green energy market in Canada. The Company is listed on the Canadian Stock Exchange under the symbol “XZX”.
BY ORDER OF THE BOARD
Mr. Xuedian Liu
Chairman, Chief Executive Officer and President
For further information:
Canada Renewable Bioenergy Corp.
Xinlin Huang, Chief Financial Officer
Phone: 778-688-7346
Email: xhuang@canadarenewablebioenergy.com
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of CSE) accepts responsibility for the adequacy or accuracy of this release. Information about Canada Renewable Bioenergy Corp. is available at www.cnsx.ca and on SEDAR at www.sedar.com.
Statements in this news release that are not historical facts are forward-looking statements. These forward looking statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements in this news release include the statement about the Company’s plans to build a facility in Stewart, British Columbia. Actual results may differ materially from those currently anticipated due to a number of factors beyond the Company's control. These and other risks are described in the Company's Management Discussion and Analysis for
the year ended March 31, 2013 and other public disclosure documents filed on the SEDAR website at www.sedar.com.